Selected A-share Announcement: Beijing Kingsoft Office Software, Inc (688111.SH) expects first-quarter net profit to increase by 402%-473% year-on-year.

Focus today 1. Greenland Holdings Corporation: Contract sales revenue in the first quarter was 13.941 billion yuan, a year-on-year increase of 14.8%. Greenland Holdings Corporation announced that in the first quarter of 2026, the company achieved a contract sales area of 1.705 million square meters, an increase of 12.69% over the same period last year; achieved a contract sales amount of 13.941 billion yuan, an increase of 14.8% over the same period last year. 2. Beijing Kingsoft Office Software, Inc: Net profit in the first quarter is expected to increase by 402%-473% year-on-year. Beijing Kingsoft Office Software, Inc announced that it is expected to achieve a net profit attributable to the company's shareholders of 2.022 billion to 2.307 billion yuan in the first quarter of 2026, a year-on-year increase of 401.89% to 472.81%. In the first quarter of 2026, the company steadily promoted the landing of AI full-scene service capabilities, and the research and development investment in AI and collaboration fields in the early stage gradually paid off, combined with the improvement in refined operational efficiency, all three core businesses achieved growth, and the quality of profitability continued to improve. 3. China Northern Rare Earth: Net profit is expected to increase by 109%-118% year-on-year, with prices of major rare earth products showing an upward trend. China Northern Rare Earth announced that it is expected to achieve a net profit attributable to the company's shareholders of 900 million to 940 million yuan in the first quarter of 2026, an increase of 109.14% to 118.43% year-on-year. In the first quarter of 2026, the rare earth market overall showed a strong trend, with prices of major rare earth products fluctuating upward. Sales of rare earth metals and magnetic materials steadily increased, achieving full coverage of leading enterprises in magnetic materials. Magnetic material enterprises continued to leverage their production capacity advantages, steadily increasing the supply volume in the Baotou region, covering more than 95% of the market; sales in the high-end segment of polishing materials slightly increased; the service capabilities of rare earth permanent magnet motor systems continued to improve, and the bidding amount for single projects exceeded ten million yuan for the first time, with application scenarios further expanded. The first phase of the rare earth green smelting upgrade and renovation project has been put into production, with all production lines connected; the main process plant of the second phase has completed the main structure, and internal construction and equipment procurement are in progress. 4. Cssc Offshore & Marine Engineering: Expected net profit in the first quarter is expected to increase by 95.16% to 133.11%. Cssc Offshore & Marine Engineering announced that it is expected to achieve a net profit of 360 million to 430 million yuan attributable to the parent company's shareholders in the first quarter of 2026, an increase of 176 million to 246 million yuan compared to the same period last year, a year-on-year increase of 95.16% to 133.11%. It is expected to achieve a net profit attributable to the parent company's shareholders of 330 million to 390 million yuan excluding non-recurring gains and losses in the first quarter of 2026, an increase of 152 million to 212 million yuan compared to the same period last year, a year-on-year increase of 85.44% to 119.16%. 5. Shida Shinghwa Advanced Material Group: Net profit in the first quarter is expected to be 260 million to 310 million yuan, turning losses into profits year-on-year. Shida Shinghwa Advanced Material Group announced that it is expected to achieve a net profit attributable to the company's shareholders of 260 million to 310 million yuan in the first quarter of 2026, compared to the same period last year turning losses into profits. The main reason for the profit forecast in this period is the recovery in industry sentiment, the rise in the prices of core products, and the improvement in profitability. 6. Advanced Fiber Resources: Net profit in the first quarter is expected to increase by 303%-323% year-on-year. Advanced Fiber Resources announced that it is expected to achieve a net profit attributable to the company's shareholders of 43.7 million to 45.87 million yuan in the first quarter of 2026, an increase of 303% to 323% compared to the same period last year. During the reporting period, the company achieved steady growth in operating income through technological innovation, the introduction of new products, active development of new customers at home and abroad. The net profit attributable to the company's shareholders increased significantly compared to the same period last year, mainly due to the growth in operating income during the reporting period driving the increase in net profit, and the enhanced expense control, cost reduction, and efficiency improvement, as well as the small base in the same period last year. 7. L&K Engineering: Net profit in the first quarter is expected to increase by 181%-223% year-on-year. L&K Engineering announced that it is expected to achieve a net profit attributable to the company's shareholders of 230 million to 265 million yuan in the first quarter of 2026, a year-on-year increase of 180.52% to 223.21%. The engineering projects in Singapore have a relatively large amount and relatively good gross profit margin. The company's construction contracting strategy has been successful, and the contracting costs have been effectively controlled. These projects are continuing and have made a significant contribution to this period's operating income and net profit. The settlement and payment of construction projects from the previous period are good, resulting in a significant reversal of the provision for impairment of contract assets in this period. 8. Ganzhou Teng Yuan Cobalt New Material: Net profit in the first quarter is expected to increase by 308%-352% year-on-year. Ganzhou Teng Yuan Cobalt New Material announced that it is expected to achieve a net profit attributable to the company's shareholders of 504 million to 558 million yuan in the first quarter of 2026, an increase of 308.22% to 351.95% compared to the same period last year. During the reporting period, the company achieved good growth in performance, mainly due to: first, the company operated steadily, established a diversified raw material procurement system, with strong raw material supply capability, especially the stable supply of secondary resources or recycled raw materials, effectively hedging the impact of fluctuations in the purchase of native ores, providing support for the growth in performance; secondly, benefiting from the significant rise in metal market prices such as cobalt and copper compared to the same period last year, and the Congo Tengyuan copper products achieved a year-on-year growth in production, and continued optimization of customer structure, which significantly increased the company's product output, sales, and profitability. 9. Shandong Dawn Polymer: Net profit in the first quarter of 2026 is expected to increase by 80%-100% year-on-year. Shandong Dawn Polymer announced that it is expected to achieve a net profit attributable to the company's shareholders of 79.7119 million yuan in the first quarter of 2026, an increase of 80%-100% compared to the same period last year; the net profit after deducting non-recurring gains and losses is 73.6317 million yuan, an increase of 99.13%-123.08% compared to the same period last year. During the reporting period, the net profit attributable to the company's shareholders increased significantly compared to the same period last year, mainly due to the growth in the company's business and the inclusion of the operating performance of its subsidiary Ningbo Aisi Kai Synthetic Rubber Co., Ltd. in the consolidated financial statements since February. 10. Shentong Technology Group: Net profit in the first quarter of 2026 was 46.4306 million yuan, a year-on-year increase of 420.14%. Shentong Technology Group announced that its operating income in the first quarter of 2026 was 4.12 billion yuan, an increase of 20.40% year-on-year. The net profit was 46.4306 million yuan, an increase of 420.14% year-on-year. The main reasons for this increase were the increase in income and gross profit, and the reduction in credit impairment losses resulting from the collection of accounts receivables. 11. Wus Printed Circuit: Net profit in the first quarter of 2026 is expected to increase by 54.76%-65.25% year-on-year. Wus Printed Circuit announced that it is expected to achieve a net profit of 1.18 billion to 1.26 billion yuan in the first quarter of 2026, a year-on-year increase of 54.76% to 65.25%. The company is expected to achieve growth in operating income and net profit in the first quarter of 2026 compared to the same period last year, benefiting from the structural demand for printed circuit boards in emerging computing scenarios such as high-speed computing servers and artificial intelligence, and relying on a balanced product layout and years of deep cultivation in medium and high-end products and mass production technologies. 12. Zhejiang Hailiang: Plans to invest $566 million in Saudi Arabia to build a high-end smart copper product processing plant project with Rawas. Zhejiang Hailiang announced that the company plans to invest in Saudi Arabia with RAWAS NATIONAL INVESTMENT HOLDING COMPANY (Rawas) to build a high-end smart copper product processing plant project, with a total investment expected to be $566 million, invested in stages, for land purchase (or leasing), plant construction, equipment procurement and installation, and working capital, etc. The company will hold 51%, while Rawas will hold 49% of the project. 13. Yunnan Tin Co., Ltd.: Net profit in the first quarter is expected to increase by 147%, with profits from the potassium chloride segment growing significantly. Yunnan Tin Co., Ltd. announced that the company achieved an operating income of 6.432 billion yuan in the first quarter of 2026, a year-on-year increase of 94.89%; and a net profit attributable to the company's shareholders of 2.939 billion yuan, an increase of 147.44% year-on-year. During the reporting period, the company produced approximately 877,300 tons of potassium chloride and sold about 1.3297 million tons; and produced approximately 19,500 tons of lithium carbonate, with sales of about 16,800 tons. Driven by year-on-year increases in sales volume and prices, profitability in the potassium chloride segment has grown significantly. At the same time, the production of 40,000 tons/year basic lithium salt project has started, boosting the year-on-year increase in the production and sales volume of lithium carbonate, and the market price trend has fueled a significant increase in the company's overall performance. 14. Xiangyang Changyuandonggu Industry: The company warns of stock trading risks, and the uncertainty of the implementation of asset restructuring. Xiangyang Changyuandonggu Industry announced that the company warns of multiple stock trading risks. Regarding asset restructuring, the company planned to issue shares to acquire 100% equity of Kanghao Mechanical and Electrical and raise supporting funds, but the prerequisites for this transaction, including the mergers and acquisitions loans, were not met. Therefore, the company decided to terminate the acquisition. As of the disclosure date of the announcement, the company has not paid any amount, the target company's equity under the transaction has not been delivered, and there is no breach of contract. The termination of the acquisition will not have an adverse impact on the company's existing operational performance and financial condition. 15. Ningbo TIP Rubber Technology: As of now, the company has no plans to engage in artificial intelligence-related business. Ningbo TIP Rubber Technology announced that there were market rumors that the company had signed a framework cooperation agreement with shareholder Zhonghao Xinying to engage in artificial intelligence (885728)-related business. Through a self-examination, the company confirmed that as of now, there are no plans to engage in artificial intelligence-related business; and it has also confirmed with shareholder Zhonghao Xinying that as of now, the company has not signed any framework cooperation agreements or similar agreements with shareholder Zhonghao Xinying. 16. Baoding Technology: Net profit in the first quarter is expected to increase by 234%-290% year-on-year. Baoding Technology announced that it is expected to achieve a net profit attributable to the company's shareholders of 60 million to 70 million yuan in the first quarter of 2026, an increase of 233.98% to 289.64% compared to the same period last year. During the reporting period, the business of coated copper foil and copper foil benefited from the recovery in the industry sentiment, the increase in product sales, and the improvement in profitability resulting from the rise in gross profit margin of FR4 and copper foil; the gold price remained at a high level, leading to an increase in the company's finished gold operating income and gross profit margin. 17. Qinghai Yanhu Industry: Net profit in the first quarter is expected to increase by 147%, with significant profit growth in the potassium chloride segment. Qinghai Yanhu Industry announced that the company achieved revenue of 6.432 billion yuan in the first quarter of 2026, a year-on-year increase of 94.89%; and a net profit attributable to the company's shareholders of 2.939 billion yuan, a year-on-year increase of 147.44%. During the reporting period, the company produced approximately 877,300 tons of potassium chloride and sold about 1.3297 million tons; and produced approximately 19,500 tons of lithium carbonate, with sales of about 16,800 tons. Driven by year-on-year increases in sales volume and prices, profitability in the potassium chloride segment has grown significantly. At the same time, the production of 40,000 tons/year basic lithium salt project has started, boosting the year-on-year increase in the production and sales volume of lithium carbonate, and the market price trend has fueled a significant increase in the company's overall performance. 18. Vanfund Urban Investment & Development: Received a pre-termination notice of delisting and stock suspension. Vanfund Urban Investment & Development announced that as of April 13, 2026, the company's stock has closed below a total market value of 500 million yuan for twenty consecutive trading days, triggering the conditions for termination of listing as specified in the Stock Listing Rules. The company's stock will be suspended from trading starting on April 14, 2026. The company received a pre-termination notice from the Shenzhen Stock Exchange on April 13, 2026. The company has the right to apply for a hearing or submit a written statement and defense within the specified period. If the Shenzhen Stock Exchange ultimately decides to delist the company, the company's stock will be transferred to the delisting board for listing and trading managed by the National Equities Exchange and Quotations Company. The company reminds investors to pay attention to investment risks. 19. Jiangsu Hengli Hydraulic: The actual controlling shareholder and chairman, Wang Liping, is performing his duties normally. Jiangsu Hengli Hydraulic announced that the company's actual controlling shareholder and chairman, Wang Liping, has been performing the duties of the legal representative and chairman of the company, and the company's production and operation are normal. Editorial note: On March 20, Jiangsu Hengli Hydraulic announced that its actual controlling shareholder and chairman, Wang Liping, was placed under detention. In the "2025 Hurun Rich List," the Wang Liping family's wealth grew to 86 billion yuan in wealth scale, ranking 54th, up from 76th the previous year, maintaining the title of "Changzhou's richest." 20. Beijing Qianjing Landscape: Terminated the acquisition of 100% equity of Fuyue Technology. Beijing Qianjing Landscape announced that the company previously announced its intention to acquire 100% equity of Fuyue Technology Co., Ltd. in Tongling Zunhao Technology Co., Ltd. and Lin Qin for 241 million yuan. Due to the non-fulfillment of the prerequisite mergers and acquisitions loans in this transaction, the company has decided to terminate the acquisition. As of the date of the announcement, the company has not paid any amount, the target company's equity under the transaction has not been transferred, and there is no breach of contract. The termination of the acquisition will not have an adverse impact on the company's existing operational performance and financial condition. 21. Hgtech: Net profit in the first quarter is expected to increase by 46.38%-56.13% year-on-year, with a significant increase in shipments of high-speed optical modules such as 1.6T. Hgtech announced that it is expected to achieve a net profit attributable to the company's shareholders of 600 million to 640 million yuan in the first quarter of 2026, an increase of 46.38% to 56.13% compared to the same period last year. The company's photonic interconnection business benefited from the dense construction of data centers, with rapid growth in optical module orders in the first quarter, a substantial increase in shipments of 400G, 800G, 1.6T high-speed optical modules, and a profit increase of approximately 120% year-on-year. At the same time, the rapid expansion of the new energy-related industry chain, as well as the strong upward cycle and development trend of high-end, green, and intelligent vessels, have brought strong demand for the company's intelligent manufacturing business, with rapid growth in laser equipment and intelligent production line orders. Unusual Stock Risk Warning 1. Baoding Technology: Subsidiary needs to pay taxes and interest totaling 37.65 million yuan. 2. Sanan Optoelectronics: Partial shares of the controlling shareholder will be subject to judicial enforcement. 3. Markor International Home Furnishings: Stock trading is abnormally fluctuating, and there is uncertainty in various major matters. 4. COFCO Technology & Industry: Chairman Zhu Laibin resigned due to work changes. 5. Bank Of Chengdu: Vice President Chen Haibo resigned due to organizational work adjustments. 6. Cinda Real Estate: Chairman Deng Lixin resigned due to age reasons. 7. Grace Fabric Technology: The company's main product, electronic-grade glass fiber cloth, is one of the basic materials for PCBs, and there have been no significant changes in the main business. 8. Ningbo TIP Rubber Technology: As of now, the company has no plans to engage in artificial intelligence-related business. 9. Shenzhen Soling Industrial: Shareholder has been judicially ordered to undergo substantial merger bankruptcy liquidation. 10. Hanjia Digital Intelligence Science and Technology Group: Received an administrative penalty decision from the Ministry of Finance, fined 800,000 yuan. Key Company Performance Overview 1. China Northern Rare Earth: Net profit increased by 124.17% in 2025. 2. CGN Power Co., Ltd. New Energy: Power generation in March was 1,663.9 GWh, a decrease of 5.7% year-on-year. 3. Jinhui Mining Incorporation: Net profit in the first quarter increased by 118.41%. 4. Lanpec Technologies: Net profit was 48.6377 million yuan in 2025. 5. Shandong